After the soft cut, "Reverse Frames" is applied to the "parent" video instead of a selected strip
As solved in the comments, just use the hard cut instead of the soft cut, because the soft cut mantain the entire video clip in the strip and the parts you cut away are just hidden (infact you can re-expand the clip moving the start or the end side.
The hard cut creates a strip that is just the part you cut, infact you can move the sides inside to narrow it more, but you cannot move them outside to expand it to the whole initial clip.